Stuck

S&Ps at 1224 this morning, just below the range of 1225 to 1231.50 that has contained this market for most of the late morning.

Only a significant breakout of this area should result in a move in one direction. But within this zone, expect the choppy trade to continue.

NASDAQ at 1733, below the 1740-1750 area where the market chopped around in the late morning.

The trading pit has quieted down now, so we don’t expect to see much in the way of decisive moves right now. Above 1755, we should see some short covering and maybe a move to 1770-1775.